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farzinfaddy
Nov 16, 2021 7:18 PM

ETH Will go down to $3800? Short

Ethereum / TetherUSBinance

Description

1- According to 3D timeframe chart, it shows sellers are strong and price could go down even more to first support which is $3800. If price can hold this strong support we can hope the uptrend is still powerful.
2- In addition to Fibonacci support and resistance another proof for this idea would be MA20. As you see price can hit the MA20 on the $3800 area.
3- There is no hidden divergence to proof this is the end of correction.
4- No big volume shows it's not a liquidation for another uptrend yet.

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P.S. This is not an advice to buy or sell, that's just an analysis that needs to considered too.
Always make your analysis before a trade.

Trade closed: target reached

Target almost reached.

Comment

Finally liquidation appeared on BTC and whole market followed so ETH reached $3800. If it holds above this support we can be hopeful it is just a correction otherwise it's a massive dump to $2600 or $1700.

Trade closed: target reached

Comments
Javad010
I appreciate your analysis of ETH
farzinfaddy
@Javad010, Thanks Bro.
Kevgolmx77
I also believe we will hit 3800
dREi
nah. it will test 2400 level.
farzinfaddy
@dREi, We need to wait and see what will happen. If it loses first support, we will see another dump.
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